Tuesday, 14 December 2010

The European Union and its currency

I read with more than a hint of excitement that the Euro is under a majot threat. In fact the eurosceptic MP Douglas Carswell is convinved that it is finished. Now I don't understand the mechanics of international finance but apparently, according to the accountants Goldman Sachs, Portugal, Belgium, Spain and in particular Italy will have to find astronomical sums just to keep it going.

The experts reckon that it is not sustainable and it the debts are so collossal that not even Germany and France can bail them out. It looks as if this socialist experiment will end like all of their weird experiments; doomed to fail having cost shedloads of money.

Perhaps The Coalition will discover an unexpected windfall but no doubt somebody will attempt to keep the bandwagon rolling. Even so just think of all those leeching out of the EU fund who may soon have to fend for themselves.

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